China Daily | Updated: 2021-07-19 07:36 Share CLOSE A high-speed train production line of China Railway Rolling Stock Corp in Qingdao, Shandong province. [Photo/Xinhua]
The track laying for the high-speed railway linking Hangzhou and Taizhou has been completed and the line is due to come into operation by the end of the year.
What makes the railway special is that it will be the first one of its kind with non-State capital controlling the shares. High-speed railways can be good money earners. The net profit of the high-speed railway between Beijing and Shanghai, for instance, increased by 4.6 billion yuan ($710.1 million) a year on average from 2014 to 2019.
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Central SOEs bask in H1 profit glory By ZHONG NAN in Beijing and LIU MINGTAI in Changchun | CHINA DAILY | Updated: 2021-07-15 07:12 A high-speed train production line of China Railway Rolling Stock Corp in Qingdao, Shandong province. [Photo/Xinhua]
For the first time in history, half-yearly net profits of centrally administered State-owned enterprises, or central SOEs, exceeded 1 trillion yuan ($155 billion) in the first half of this year.
Net profits soared by 133.3 percent year-on-year to 1.02 trillion yuan on combined revenues of 17.1 trillion yuan, up 28.2 percent year-on-year, data from the State Council s State-owned Assets Supervision and Administration Commission, or SASAC, showed late on Tuesday.
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China will promote the integration of domestic and foreign trade, and consolidate the stability of the supply and industrial chains to ensure jobs for nearly 200 million people during the 14th Five-Year Plan period (2021-25), a government report said on Wednesday.